Arroyo Cites 10 Business Accords with Malaysians; Returns Today Via Davao City
Maglalang, Ferdie J., Manila Bulletin
KUALA LUMPUR, Malaysia (Via PLDT) - President Gloria Macapagal Arroyo expressed satisfaction yesterday over the signing of 10 agreements between Filipino and Malaysian businessmen to strengthen trade and investments in the two countries.
In a press conference at the Shangri-La Hotel here, the President said she was pleased that the Filipino and Malaysian business delegations have forged important agreements that will boost economic ties between them.
"Today, there were a number of private business agreements to exchange cooperation either as actual joint ventures or marketing and distribution agreements that took place and I am very happy," she said.
President Arroyo ends her three-day state visit to Malaysia today. She will return to the Philippines via Davao City where she is expected to arrive this afternoon.
The President was the special guest of honor and speaker yesterday at the Malaysian-Philippines Business Forum where the 10 business agreements were signed.
In her speech, she called on Malaysian businessmen to increase impor from the Philippines, saying that Malaysia is an important source of investments "for our major industries, such as in manufacturing, in toursim, and in services."
"The Philippines is the fourth largest ASEAN supplier to Malaysia after Singapore, Thailand, and Indonesia. On the other hand, the Philippines is Malaysia's third largest market in ASEAN after Singapore and Thailand," she said.
She announced the government's plan to devote some 160,000 hectares for palm oil plantations in Mindanao as well as to develop a "halal food" which she said is a new market for the Philippine food industry.
The 10 agreements are the following:
- Cooperation between Semiconductor Electronic Industries in the Philippines and Federation of Malaysian Manufacturers-Malaysian Electronic and Electrical Group which provides support by exchange of data and information on semiconductor and electronics industry.
- Agreement between the Asian Institute of Management (AIM) and Welewar Academia to develop master's degree and executive education programs, including professionalizing small and medium scale enterprises.
- Agreement between the Federation of Filipino Chamber of Commerce and Industry and the Associated Chinese chambers of Commerce and Industry.
- Agreement to establish a Supreme Council of the Malaysia-Philippine Business Council and the Malaysia-Philippine Business Council.
- Agreement between Malaysia's Multimedia Corp. and the Department of Trade and Indusry to study the feasibility of implementing he national multi purpose smart card concept in the Philippines.
- Agreement between RFM Corp. and IGLO (M) Sdn Bhd, a joint venture company to be organized in the Philippines to operate a cold storage facilities, cold logistics distribution services, among others.
- Agreement between Selecta Wall's and Unilever Thai Holdings, a joint venture agreement to tap the Southeast Asia ice cream market selling Philippine Selecta brand.
- Agreement between PNOC and the Pedtroliam Nasional Berbad, to conduct joint studes on the technical and commercial feasibility of the Sabah Philippine Interconnection and the South Luzon Pipeline Project.
- Agreement between Binariang Satellite and Millenia Telecommunications Corp., a cooperative venture to provide communication broadband through satellite to provide VSAT services through the country, including internet services.
- Joint Venure Agremeent between Malaysia Assurance Alliance International Assurance Ltd., and MAA General Assurance Philippines Inc. which seeks to provide technical assistance and support to its general insurance business in the Philippines.
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